BRUSSELS, April 29 (Xinhua) -- The euro area will see 7.5 percent year-on-year inflation in April, according to a flash estimate published on Friday by Eurostat.

       Soaring energy prices are the driving force behind the high inflation rate, according to ING's Senior Economist for the Eurozone Bert Colijn, although the annual inflation rate fell from 44.4 percent in March to 38 percent in April.

       He said in an analysis that the spike in fuel, electricity and gas prices from early March at the start of the Ukraine crisis was followed by "cautious retreats and governments reducing taxes on energy."

       "This has resulted in a slight moderation of energy inflation, but concerns remain for the months ahead," said Colijn, warning of possible price hikes if Russia cuts off gas supply to European countries.

       Meanwhile, prices of food, alcohol and tobacco recorded yearly inflation of 6.4 percent in April, compared to 5.0 percent in March.

       With supply chain problems set to last longer and become more severe, core inflation is expected to trend higher for most of 2022, Colijn said. This should trigger the European Central Bank to take action.

       Countries with the highest annual inflation rate in April include Estonia, with 19 percent; Lithuania, with 16.6 percent; and Latvia with 13.2 percent. The lowest annual inflation rates were recorded in Malta, with 4.9 percent; France with 5.4 percent; and Finland with 5.6 percent, according to Eurostat.

       Meanwhile, the euro area's gross domestic product (GDP) is slowing down, with estimates for the first quarter of 2022 showing a 0.2 percent increase quarter on quarter. This compared to a 0.3 percent increase in the previous quarter.

       "The reopening of the economy has boosted growth to a degree, probably postponing the pain that high prices will bring to household consumption," explained Colijn.

       The three first months of 2022 were "turbulent," he said. Despite the Omicron variant of the COVID-19 having a milder impact than expected on the economy, the Russia-Ukraine conflict is once more triggering supply-chain problems.

       Colijn predicted the euro area's economy would shrink during the second quarter of 2022. He also expects the ECB to take action to try and lower the inflation rate.